A. O. Smith Acquires Leonard Valve, Expanding Commercial Mixing Valve and Hydronic Controls Portfolio
Key Highlights
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Expands A. O. Smith’s commercial and institutional offering into thermostatic mixing valves and boiler controls
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Strengthens digital water temperature management and hydronic system integration
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Brings Leonard Valve and Heat-Timer technologies under a single water management portfolio for complex facilities
MILWAUKEE, WI — A. O. Smith Corporation (NYSE: AOS) announced it has completed the acquisition of LVC Holdco LLC, the parent company of Leonard Valve, in a transaction valued at $470 million, subject to customary adjustments. The all-cash deal is valued at approximately $412 million after adjusting for estimated tax benefits and was funded through borrowings under a new credit agreement.
Expanding Commercial Water Management and Hydronic Expertise
The acquisition expands A. O. Smith’s footprint in the commercial and institutional water management market, adding specialized expertise in water temperature control, digital mixing systems, and hydronic boiler controls. Leonard Valve’s product portfolio supports critical applications where precise temperature control, code compliance, and system reliability are essential.
“This acquisition expands our presence in the water management market, enhances our digital expertise and broadens our integrated product offering with commercial and institutional customers,” said Steve Shafer, Chief Executive Officer of A. O. Smith. “We are proud to welcome the Leonard Valve team into the A. O. Smith family. Both companies share a commitment to innovation, integrity and exceptional customer service.”
Leonard Valve Portfolio Targets Demanding Applications
Founded in 1911 and headquartered in Cranston, Rhode Island, Leonard Valve designs and manufactures water temperature control valves, digital and thermostatic mixing systems, and related monitoring devices. These solutions are widely used in hospitals, schools, universities, industrial facilities, and other institutional and commercial environments where safety and performance are non-negotiable.
Through its Heat-Timer brand, Leonard Valve also provides advanced boiler control systems that help facility owners and contractors optimize hydronic heating performance while improving energy efficiency and operational consistency.
Broader Integrated Solutions for Contractors and Facility Owners
By combining Leonard Valve’s mixing valve and control technologies with A. O. Smith’s existing commercial water heating and water treatment portfolio, the company aims to deliver more integrated, system-level solutions for large facilities. The expanded offering is expected to support contractors with tighter system integration, improved digital monitoring capabilities, and streamlined specification for complex projects.
“We are excited to join A. O. Smith,” said David Brakenwagen, President of Leonard Valve. “Together, we can continue to further invest in our people and technology, enhance our digital and thermostatic mixing solutions, expand our boiler control offerings, and deliver even more integrated solutions to our customers.”
BofA Securities served as exclusive financial advisor to A. O. Smith Corporation, with Foley & Lardner LLP acting as legal advisor.
Note: this release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.